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crude oil prices tumbling on fears of a weak economy, large inventory, crude oil, a stronger dollar that was boosted by a flight from european currencies to this country. crude oil down more than $4, under $85 per barrel. we should point out, today's stock sell-off to my as impressive as it is, does not compare with the sell-off when president obama was first elected back in 2008, and the day after election day than stocks plunged 5% after he was elected, and fell another 12 percent two weeks after the election, and by the end of 2008, the dow had sunk nearly 9%. well, joining us now to assess whether that is the likely path for the markets to follow, charles schwab chief investment strategist and senior vice president. good to have you with us. >> hi. lou: this is a fairly impressive sell-off. what you make of it? >> look, i think yesterday we had two major uncertainties, the dominant one being the fiscal cliff. the last comment, but most trenton center with the election itself. there was some hope that once we get the results of the election we would have greater clarity on the big unc
crude oil prices tumbling on fears of a weak economy, large inventory, crude oil, a stronger dollar that was boosted by a flight from european currencies to this country. crude oil down more than $4, under $85 per barrel. we should point out, today's stock sell-off to my as impressive as it is, does not compare with the sell-off when president obama was first elected back in 2008, and the day after election day than stocks plunged 5% after he was elected, and fell another 12 percent two weeks...
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rowe price, we understand the connections of a complex, global economy. it's just one ason over 75% of our mutual funds beat their -year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ >> i ran for office because i am concerned about america. this election is over, but our principles endorsed. i believe that the principles upon which this nation were founded on the only short guide to a resurgent economy into renewed greatness. lou: coming up short in his bid for the presidency dollars in the majority of the swing states. joining me now to talk about some of the reasons behind that, the shifting demographics, republican thinking in strategy, we are joined by former deputy assistant to president george w. bush, also with us best-selling author, and klein. this is as if the obama team did not -- it just knew exactly what would unfold. that is how together they were. it was the inverse for the run the te
rowe price, we understand the connections of a complex, global economy. it's just one ason over 75% of our mutual funds beat their -year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ >> i ran for office because i am concerned about america. this election is over, but our principles endorsed. i believe that the principles upon which...
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Nov 13, 2012
11/12
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FBC
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so theiscacliff is a contraction in thegovernment imlse and the economy of 4-5% of gdp. i would say in the first order that will hit and reduce economic growth from 2 percent down to-1,-2 very easily. lou: and your outlook on employment, unemployment dropping -- dropping, in my dreams, rising from just under 8% to 9 and a half percent. real unemployment right now is -- if we were inclusive and going through the numbers, i mean, you're talking about devastation. i mean, they're acting like this is a lot in the park. >> absolutely. i think that the jok is economists can't agree on anything, but there is broad agreement in the economics community that going over the cliff and even preending like we're going over the cliff has costs. going over the cliff is a monumental mistake. lou: how did you reac when you heard senator patty murray in washington state, maybe we ought to just go over tat cliff, kind of sort things out? i have heard a number of people. i was shocked at her because sh is otherwise a rather sensible and intelligent person. >> a share, unmitigated terror. it
so theiscacliff is a contraction in thegovernment imlse and the economy of 4-5% of gdp. i would say in the first order that will hit and reduce economic growth from 2 percent down to-1,-2 very easily. lou: and your outlook on employment, unemployment dropping -- dropping, in my dreams, rising from just under 8% to 9 and a half percent. real unemployment right now is -- if we were inclusive and going through the numbers, i mean, you're talking about devastation. i mean, they're acting like this...
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unemployment rate, weak economy, they looked past the benghazi cover-up, they looked past broken promises and basically president obama won a lot of people, or kept a lot of people based on popularity, mitt romney's campaign go the stronger on substance as he went further into the campaign, i was pleased with that. it was simply popularity, versus substance. now going forward. there is no doubt in my mind, bad on having talked to over 2000 be owners in last two months, to encourage them to talk to their employees, they have indicated to me, that numb one, many will have to shut dunn their businesses, they cannot afford obamacare, and they cannot afford tax ma -- >> the president i think really wants greater things of himself, and maybe to my colleague lou dobbs' point, a more historic role than we've seen first term, there is maybe not a fear, maybe he rolls back in fear? or rolls back regulation that businesses and guysike have you been saying before, mayaybe that fear could be misplaced what do you say? >> nile, you know i love you like a brother. but i do not aee. because this is the s
unemployment rate, weak economy, they looked past the benghazi cover-up, they looked past broken promises and basically president obama won a lot of people, or kept a lot of people based on popularity, mitt romney's campaign go the stronger on substance as he went further into the campaign, i was pleased with that. it was simply popularity, versus substance. now going forward. there is no doubt in my mind, bad on having talked to over 2000 be owners in last two months, to encourage them to talk...
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Nov 10, 2012
11/12
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FBC
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everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. usank. ♪ lou: president obama was a second term, as a strong support from the latino community among others. so the republicans need to shift their views on immigration reform to convince hispanics they should join the party. the republican party. manhattan institute fellow will be joining us here in moments. talk about just those issues. first we turn our attention to the markets and tonight's moneyline. consumer confidence moving high. reaching a five-year high this month according to the university of michigan survey. one is a surprise demand temporarily investor concerns about the fiscal cliff and the european union that appears near polling office -- falling off its own glass. president obama moved to the east room and stood before the cameras and microphones and produced a nearly -- well, a banishing, if you wi
everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. usank. ♪ lou: president obama was a second term, as a strong support from the latino community among others. so the republicans need to shift their views on immigration reform to convince hispanics they should join the party. the republican party....
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Nov 12, 2012
11/12
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FBC
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everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a fferent chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined. n't focus. i was always interrupting my teammates. earlier in my career, my coach approached me. he said, "i think that, you know, sometimes i don't feel like you're focused." so the next day, i went and saw a doctor. it was my adhd. like many kids with adhd, i didn't outgrow it. if you were diagnosed with adhd as a kid, you might still hav
everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a fferent chart. going that way, does that make a difference ? look at...
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Nov 14, 2012
11/12
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FBC
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our economy can't afford that right now. certainly no middle class family can afford that right now. and nobody in either party says they want it to happen. the other option is to pass a law right now that would prevent any tax hike whatsoever on the first $250,000 of everybody's income. and by the way, that means every american including the wealthyest americans get a tax cut. it means that 98% of all americans and 97% of all small businesses won't see their taxes go up a single dime. the senate has already passed a law like this. democrats in the hous but, what he said was, even though he didn't give me his vote, he is giving me his support to move this country forward. and he said, the same to his republican representatives in washington. he said that, he will back each of us regardless of party, as long as we work together to make life better for all of us. and he made it clear that if we don't make enough progress he will be back in touch. so my hope, he wrote, is that we can make progress in light of personal party pri
our economy can't afford that right now. certainly no middle class family can afford that right now. and nobody in either party says they want it to happen. the other option is to pass a law right now that would prevent any tax hike whatsoever on the first $250,000 of everybody's income. and by the way, that means every american including the wealthyest americans get a tax cut. it means that 98% of all americans and 97% of all small businesses won't see their taxes go up a single dime. the...
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Nov 10, 2012
11/12
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FBC
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in now because you have a family member already here but because you have skills that the american economy needs and language. with regard to illegal immigration, i think the rule of law remains the best way of making sure that people don't come into the country illegally. the risk of an amnesty, and we are talking of an immigration reform, that is basically all the we are talking about, unfortunately, is amnesty. every amnesty, weather in europe or the united states, has had the effect of attracting more people into the country illegally in the hope of a future amnesty. lou: years ago i started talking about a rational, effective, humane immigration policy that would take into account all of the concerns about displacement of those who were in this country illegally, due process, make a determination about how work permits and legal status was conferred. that is not enough. the activist groups in this country insist upon one thing, and it is a remarkable demand in my eyes that they insist upon amnesty, and this president is insisting upon amnesty. what is your reaction? >> well, what i wo
in now because you have a family member already here but because you have skills that the american economy needs and language. with regard to illegal immigration, i think the rule of law remains the best way of making sure that people don't come into the country illegally. the risk of an amnesty, and we are talking of an immigration reform, that is basically all the we are talking about, unfortunately, is amnesty. every amnesty, weather in europe or the united states, has had the effect of...
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economy is already in recession. reports making the round on wall street trading desks certainly indicate just that. with more on what they're seeing is liz macdonald with emac's bottom line. what are they hearing? >> you know what they're talking about? i got the run-down from my guys down on wall street. they're noticing that just four out of 10 companies, guys, in the s&p, fought out of 10 reported are beating sales estimates that is not good. they're seeing s&p earnings are down year to year fraction alley. they're not liking that. they're talking about new data reports out of the st. louis federal reserve bank talking about recession indicator pointing toward preliminary data showing possible recession right around the corner. if not, we may be in one right now just in the fourth quarter. could spill over into the first quarter. then they're also talking about six out of 10 oecd countries in europe are essentially in recession. so but the one data point they're watching are the number of companies that are cutti
economy is already in recession. reports making the round on wall street trading desks certainly indicate just that. with more on what they're seeing is liz macdonald with emac's bottom line. what are they hearing? >> you know what they're talking about? i got the run-down from my guys down on wall street. they're noticing that just four out of 10 companies, guys, in the s&p, fought out of 10 reported are beating sales estimates that is not good. they're seeing s&p earnings are...
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Nov 13, 2012
11/12
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FBC
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the economy is good or bad and he wants higher taxes. other interesting notes, sally cried check made it possibly taking over from mary schapiro. an e-mail, she has not gotten back to me. [talking over each other] charlie: i bet my pickings she has not. [talking over each other] melissa: a professional. do you communicate. [talking over each other] lori: can't ask about professional relationships with general david petraeus. charlie: since i was at the wall street journal -- [talking over each other] adam: i am usually good at that. i am good at -- melissa: everyone, simpson-bowles in this framework, and a bunch of baloney and here he is saying to come back and work on the deal. charlie: not the democrats but the white house. politically speaking, he didn't do himself any favors by saying paul ryan is a brilliant guy. melissa: everyone wants to look like they want to make a deal. [talking over each other] melissa: when push comes to shove they don't. charlie: i do not agree -- you are going to embrace the republican vice-presidential can
the economy is good or bad and he wants higher taxes. other interesting notes, sally cried check made it possibly taking over from mary schapiro. an e-mail, she has not gotten back to me. [talking over each other] charlie: i bet my pickings she has not. [talking over each other] melissa: a professional. do you communicate. [talking over each other] lori: can't ask about professional relationships with general david petraeus. charlie: since i was at the wall street journal -- [talking over each...
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Nov 13, 2012
11/12
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FOXNEWSW
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grow the economy? lower rates? get rid of loopholes. request like loopholes. >> you want do make sure you get something for the other side. you are so tired of the election you will cave for anything. >> the best outcome is do something, build a bridge to 2013 and we don't go over the fiscal cliff of higher capital gains and dividends and have a debate of how to reform the tax system. i would blow the whole system up and start over and get the rates down to 18 percent or 19 percent. i like what steve forbes talked about in anybody 96 -- in 1996, a flat tax. there would be so much growth, you would not believe it. you want jobs, have a flat tax. >>neil: i am a hugger, not a hater. the president, today, meeting with labor leaders, the first round of fiscal cliff talks and my guest is one of them, and he heads up the national education association. good do have you. how did it go? >>guest: good meeting. we had an opportunity to talk about what we believe is important and as you mentioned this is the first of three meeting, and he went with
grow the economy? lower rates? get rid of loopholes. request like loopholes. >> you want do make sure you get something for the other side. you are so tired of the election you will cave for anything. >> the best outcome is do something, build a bridge to 2013 and we don't go over the fiscal cliff of higher capital gains and dividends and have a debate of how to reform the tax system. i would blow the whole system up and start over and get the rates down to 18 percent or 19 percent....
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Nov 8, 2012
11/12
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CNBC
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economy alone is two economies right now. 80% of people never feel we came out of the recession because they peaked in their spending. their house is under water. 20% of people are college educated. very low unemployment rates. they benefitted from qe and the markets rising back. they peak in their 50s instead of mid-40s. the wealthier part of our economy is due to tailor off. the demographics in europe just go off a cliff for many, many years to come. yes, you can have nice little things in the economy and stimulus, but you can't get older people to spend money, and europe has the worst problems because they have the worst demographic. >> listen. the economist in britain taught us that demographics do not have a very strong predictive value, particularly when it comes to markets. in 1998, harry wrote a book saying the dow was going to 35,000. in 2009, he wrote about the great depression that was ahead, and the s&p has gone up 110% off the lows. the economy has gone to new highs in gdp and car sales. >> you rung for office? >> no, absolutely not. i would not predict stock market trends
economy alone is two economies right now. 80% of people never feel we came out of the recession because they peaked in their spending. their house is under water. 20% of people are college educated. very low unemployment rates. they benefitted from qe and the markets rising back. they peak in their 50s instead of mid-40s. the wealthier part of our economy is due to tailor off. the demographics in europe just go off a cliff for many, many years to come. yes, you can have nice little things in...
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Nov 15, 2012
11/12
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CURRENT
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eric cantor, cut the deficit and we'll grow the economy. now suddenly they're confronted with actual contraction and they are aware there is this bomb and their many job is to diffuse it or at least to limit the explosion when it goes off. they're scrambling to do that, but they're tied down to ideological core beliefs and thus unable to do that. >> eliot: what is going on right now, we're opting and rightly so for jobs over deficit reduction. if all we cared about was deficit reduction then people would let the austerity bomb and the fiscal cliff, we would go over it. fine, we're reducing the deficit, who cares. but the republicans are acknowledging that jobs manage more and that's why we have to change our policies. does that seem to be what is going on here. >> that's true across the board. but i think just as much as republicans are concerned about the jobs that would be lost if all the spending cuts and tax increases happen is that a lot of spending cuts come from their sacred cows in the defense industry, and about 1 trillion-dollar w
eric cantor, cut the deficit and we'll grow the economy. now suddenly they're confronted with actual contraction and they are aware there is this bomb and their many job is to diffuse it or at least to limit the explosion when it goes off. they're scrambling to do that, but they're tied down to ideological core beliefs and thus unable to do that. >> eliot: what is going on right now, we're opting and rightly so for jobs over deficit reduction. if all we cared about was deficit reduction...
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Nov 14, 2012
11/12
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economy. jobs are created by small business in this country. they should be represented here. the national federation of independent business, groups of small businessmen and women. they really make this country work. it is unfortunate that he would choose to work with people who represent such a small percentage of the economy. that is the union leaders. we are talking about 12 or 15%, depending on how you calculate it, the entire workforce. small business creates jobs. it drives the economy. these are the folks, and this may play some part in the fact that they haven't been invited to today's soirÉe, they are the folks that will be paying those taxes that he is about to raise if he has his way. megyn: i mentioned a moment ago that the union leaders including richard trumka, supposedly they came out and said we don't want them touching medicare and in medicare and social security, they don't want any of these so-called entitlement programs to be adjusted. i'm not talking about people that ar
economy. jobs are created by small business in this country. they should be represented here. the national federation of independent business, groups of small businessmen and women. they really make this country work. it is unfortunate that he would choose to work with people who represent such a small percentage of the economy. that is the union leaders. we are talking about 12 or 15%, depending on how you calculate it, the entire workforce. small business creates jobs. it drives the economy....
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Nov 9, 2012
11/12
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FOXNEWSW
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he ran to be in charge of the economy. the fact of the matter at the end of the day it will be his fingerprints and negotiations have to stop panicking and stop negotiations in public and stop surrendering the principles if boehner felt there should be revenue increases wait to talk to the president do not go on abc news, or abc news and talking about how obamacare is wrong and we are prepared to do revenue increases. that wasn't the decision of the election. harry reid is out this talking about 19 trillion or $20 trillion in debt. we get beyond january 1, we signed off on $2.5 trillion more in debt. we signed off on trashing businesses. tracking the so-called rich. anyone who earned $250,000 and more will have a hugely negative effect on our economy. what have we achieved? >>neil: if part of the revenue issue isn't raising the rates, but is closing loopholes, and credits and special allowances. >>guest: like mortgage interest deduction? >>neil: hear me out. is it leaving mortgage and charitable deductions aside, you are r
he ran to be in charge of the economy. the fact of the matter at the end of the day it will be his fingerprints and negotiations have to stop panicking and stop negotiations in public and stop surrendering the principles if boehner felt there should be revenue increases wait to talk to the president do not go on abc news, or abc news and talking about how obamacare is wrong and we are prepared to do revenue increases. that wasn't the decision of the election. harry reid is out this talking...
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Nov 16, 2012
11/12
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FOXNEWS
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let's control the economy a little bit more than the gop. that doesn't seem -- i'm surprised. >> a couple of theories. one of the big mysteries was if they tend to be on the higher socioeconomic scales, they tend to side with mitt romney. then why? then you look deeper and it looks like most of the asian voters that they surveyed, most of the asian voters that they're looking at come from new york and california. those are two very blue states. >> bill: that's where primarily the asian communities are, though. >> right. so what i'm saying is -- >> bill: in the democratic machine. but i don't know why they would get into the democratic machine anyway. what was the asian american vote, the raw vote? >> in 2012, as a percentage of the electorate, 3%. 73% obama. 26% romney. >> bill: african-americans were 10%, right? >> yeah. a little higher than that. >> bill: 'cause they weren't quite as high as last time. >> but they're saying that both parties need to pay attention to the asian vote because it's -- >> bill: you put together a latino vote, af
let's control the economy a little bit more than the gop. that doesn't seem -- i'm surprised. >> a couple of theories. one of the big mysteries was if they tend to be on the higher socioeconomic scales, they tend to side with mitt romney. then why? then you look deeper and it looks like most of the asian voters that they surveyed, most of the asian voters that they're looking at come from new york and california. those are two very blue states. >> bill: that's where primarily the...
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Nov 9, 2012
11/12
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FOXNEWS
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at one point, president obama believes that raising taxes and a fragile economy actually -- an economy that was doing better than the one currently, was not the right move. but the president is saying what he is saying now. saying that he wants the taxes and the tax rates to go up on people making $250,000 or above. and he believes that that is the right move and he will pressure republicans to accept that. could we get something if the cap goes up? yes. $500,000. $1 million. that could be what we see as a negotiation table unturned. shannon: we know you will be on it every night. megyn will be here on "america live". we also have new questions about campaign rhetoric and the race to the white house. did team obama mislead about governor romney's position on immigration? we have the tape and we will have the debate. eleven days after sandy hits. whole communities are still in shambles. after suffering a punch from the hurricane and this week's nor'easter, are they a little too quick to take credit for the response? we will talk to the people who are still devastated with the recovery e
at one point, president obama believes that raising taxes and a fragile economy actually -- an economy that was doing better than the one currently, was not the right move. but the president is saying what he is saying now. saying that he wants the taxes and the tax rates to go up on people making $250,000 or above. and he believes that that is the right move and he will pressure republicans to accept that. could we get something if the cap goes up? yes. $500,000. $1 million. that could be what...
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Nov 12, 2012
11/12
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FOXNEWSW
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if you grow the economy at 4% a year, that 4% a year over 2% a year over a decade raises $5 trillion in more revenue. not a tax increase. but revenue through growth. why would you raise taxes when you could debt $5 trillion by cutting marginal tax rates and getting rid of some of the overregulation that obama is threatening the economy with and having more economic growth and more people pat work? that's the better way to raise revenue. it's disingenuous to say both parties have failed. the republicans in the house passed the ryan plan which fundamentally reformed entitlements. it needs the senate and the president to go along with it. but the republicans passed a real budget in writing in legislative form not some essay about what they think might be done which is all the president has done. shannon: paul ryan did win his house seat so he will be back there with the budget committee. thank you very much for weighing in. we are getting today a growing number of reports about layoffs, cutbacks and workers seeing their hours reduced as employers try to deal with the new costs of obama-
if you grow the economy at 4% a year, that 4% a year over 2% a year over a decade raises $5 trillion in more revenue. not a tax increase. but revenue through growth. why would you raise taxes when you could debt $5 trillion by cutting marginal tax rates and getting rid of some of the overregulation that obama is threatening the economy with and having more economic growth and more people pat work? that's the better way to raise revenue. it's disingenuous to say both parties have failed. the...
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Nov 12, 2012
11/12
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FOXNEWS
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we also know that it would slow down our economy. raising tax rates will slow down our ability to create the jobs that everyone says they want. gregg: so, steve is john boehner right or crystal right. >> john boehner gets an a in economics. he's precisely right. a large percentage of the income that barack obama wants to tax at the higher rate is small business income. the other part of it that the speaker didn't mention is the other big component of that income is investment income the money that the people put into the small businesses to create them in the first place. doug knows this very well that one of the big problems we have in the economy right now is businesses aren't inch investigating, they are not expand -lg your operations. can you think of a worst time to raise the tax rate on investment when investment went negative in the last quarter? if businesses are not investing they can't hire more workers and i agree with doug it could cause a ou double-dip recession. gregg: if you force higher income americans to pay more in
we also know that it would slow down our economy. raising tax rates will slow down our ability to create the jobs that everyone says they want. gregg: so, steve is john boehner right or crystal right. >> john boehner gets an a in economics. he's precisely right. a large percentage of the income that barack obama wants to tax at the higher rate is small business income. the other part of it that the speaker didn't mention is the other big component of that income is investment income the...
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Nov 11, 2012
11/12
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WRC
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but finding work for veterans in this economy has been tough. >> sometimes i feel like it's a slap to the face, because we served our country. >> johnson left the army in 2009 after serving two tours in iraq. >> i had plenty of interviews and people shake my hand and tell me thanks for what you did for the country and everything like that. and i didn't get the job. >> the bureau of labor statistics reports that unemployment among veterans is above 12%. that's why two marines moving says when you hire their services, you're actively putting veterans the work. customers like manny solis say they chose these veterans because they're veterans. >> i want to do this because of what i've heard about them. >> i prayed for something like this. >> johnson said this opportunity has motivated him and hopefully others. >> it's not over. god's got you. you got to have yourself. >> he's proven himself to be army strong. >>> two marines moving wants to hire 50 veterans by veterans day. so far they've hired 35. anyone interested can still apply. and with the arrival of veterans day, attorneys from the
but finding work for veterans in this economy has been tough. >> sometimes i feel like it's a slap to the face, because we served our country. >> johnson left the army in 2009 after serving two tours in iraq. >> i had plenty of interviews and people shake my hand and tell me thanks for what you did for the country and everything like that. and i didn't get the job. >> the bureau of labor statistics reports that unemployment among veterans is above 12%. that's why two...
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Nov 15, 2012
11/12
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KNTV
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unrest, as well as china where big questions loom over the direction of the world's second largest economy under new leadership. president obama yesterday called for tax cuts to the middle class immediately. that followed business leaders and a big meeting there, one attendee, a ceo, said his customers are still fragile in their confidence. many of those in the middle class are aspiring to be. we know the stock market has been flagging over fears this fiscal cliff won't be resolved. >> thanks so much. it's 7:18. you're up to date. let's turn it back over to matt and al. >> savannah on the way to guy fieri's restaurant in time square. it's going to be a fascinating segment in our second hour. mr. roker's here. >> we've got soggy stuff to talk about along the carolinas, even some freezing rain in parts of near charlotte. looking at a lot of heavy showers and thunderstorms. some areas going to pick up 1 to 2 inches of rain offshore. the heaviest stuff, of course. and then if you're driving in the pacific northwest or flying, you'll be running into fog. we've got dense fog advisories and even
unrest, as well as china where big questions loom over the direction of the world's second largest economy under new leadership. president obama yesterday called for tax cuts to the middle class immediately. that followed business leaders and a big meeting there, one attendee, a ceo, said his customers are still fragile in their confidence. many of those in the middle class are aspiring to be. we know the stock market has been flagging over fears this fiscal cliff won't be resolved. >>...